Business’Acceleraon’Program’ · 2020. 2. 20. · ©2016IC 2"Ins+tute,"The"University"of"Texas"at"Aus+n" Business’Acceleraon’Program’ A"small"business"growth"ini2a2ve"powered"by""

© 2016 IC2 Ins+tute, The University of Texas at Aus+n

Business Accelera-on Program A small business growth ini2a2ve powered by the City of Aus2n and the IC2 Ins2tute of The

University of Texas at Aus2n

June 2016

© 2016 IC2 Ins+tute, The University of Texas at Aus+n 2

What is it?

•  City of Aus-n program s-mula-ng growth of nascent small business ini-a-ves

•  Targe-ng companies that seek to: –  Scale their business to new markets, –  Expand current markets, or –  Develop new product or services

•  12-‐week program, developed and led by the IC2 Ins-tute of The University of Texas at Aus-n

•  Based on the IC2 Ins-tute’s successful methods accelera-ng small business success in US, La-n America, EU and Asia

•  20 businesses will be selected to par-cipate in the program


What Do Small Companies Need?

•  Interviews with small business owners in Aus-n have revealed the following needs: –  A method to develop an ac-onable business strategy to grow business

–  Outside talent to work with company leadership – allowing owners to work ON the company while running the company

–  Community support from other “peer” businesses –  Community to occur within the context of their business geography

–  Enhancement of opportuni-es for businesses lead by diverse business owners

–  Synergy with exis-ng Small Business Associa-on and incubator programs


•  Ac-onable business strategy

•  Outside talent

•  Community

•  Community context

•  Diversity involvement

•  Synergy with exis-ng programs

•  Entrepreneurial Storyboard tool

•  University of Texas at Aus-n student involvement

•  Planned community building and mentor sessions

•  Integrated with diverse business groups

•  Engagement of businesses led by women and diverse groups

•  Complementary strategy and introduc-ons

4

Mee-ng Company Needs


Goals

•  The FASTFORWARD Program will provide business owners the tools, talent and -me to: – Define new business opportuni-es that can be captured;

– Differen+ate their message, product and delivery strategy to effec-vely reach the marketplace;

– Develop financial models communica-ng business strategy to enhance partnerships and funding opportuni-es; and

– Deliver the product or service successfully to the market to increase the scale of their business.


Process

•  Through the FASTFORWARD program, par-cipants will: –  Learn and Use the Entrepreneurial Storyboard tool –  Define measurable economic opportunity for a validated market problem;

–  Differen+ate the business through offering a superior and ar-culated solu-on to the defined market problem;

–  Develop a financial model for the economic opportunity the solu-on offers the business; and

–  Deliver the solu-on using the FASTFORWARD go-‐to-‐market strategy to realize the defined economic opportunity.


Startups: Are They All the Same?

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Startup

Vary in Type: •  Lifestyle Business: Passion •  Not for Profits: Broader good •  Small Business: Local •  Scalable Startups: Growth •  Buyable Startups: Acquisi+on •  Intrepreneurial: New offerings


Startups: How Do They Start?

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Startup

Keys Proper+es for Start: •  Market insight •  Innova-on •  Team •  Market delivery

Search


Startups: How Do They Expand?

9

Startup

Key Rela+onship: •  Supplier •  Collaborator •  Channel •  Payer •  Funder •  Licensee •  Purchaser •  Des-ny

Search

“Another” Company

Execute

Vary in Type: •  Lifestyle Business: Passion •  Not for Profits: Broader good •  Small Business: Local •  Scalable Startups: Growth •  Buyable Startups: Acquisi+on •  Intrepreneurial: New offerings


Typical Entrepreneurship Training


Why Startups Fail…Analysis of 101 Startup Failures

Issues: •  Funding is scarce: US

Funders invest in ~1% of applicants

•  Even with money, most startups fail to get to “Execute”

•  If they “start”, most startups fail while “execu-ng”

•  Developing a revenue-‐bearing “Go to Market Plan” is essen-al

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Poor Execu-on Plan

Poor Understanding of the Market Need

Poor Understanding of “Solu-on”

Inadequate Profit Model


Typical Entrepreneurship Training Leaves Companies Incomplete

Disconnect – a “Gap” that many cannot traverse


IC² Ins-tute: World-‐Wide Inves-ga-on of Best Entrepreneurial Prac-ces

Site of IC2 Ins-tute Project

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Introduc-on to Storyboarding: MISSION IMPOSSIBLE -‐ ROGUE NATION

14 hjps://vimeo.com/132262694


How Can Storyboarding Improve Your Company’s Pitch?

•  Running a company – like doing a stunt on an airplane, is dangerous and high risk – planning is wise!

•  When implemen-ng a commercializa-on plan, a CEO, like a director, must ar-culate their vision and unite a team around it.

•  A plan should ar-culate the sequence of ac-ons and actors required.

•  Clarity in thought, word and outcome are required to posi-on a business “ask” for funding or partnership.

15 ©2015 IC2 Ins-tute, The University of Texas at Aus-n


Entrepreneurial Storyboarding

•  Captures and communicates a business model to a buyer, funder or partner through a short, graphical sequence of the core business “scenes”.

•  Facilitates an audience-‐focus presenta-on while encouraging dialogue for mutual value recogni-on, clarity on a business “ask” and mutual ownership of next steps.

•  Create increased curiosity and communica-on to move from elevator-‐type environments, to “back of the napkin”

conversa-ons, to PowerPoint decks and formal business mee-ngs.

16 ©2015 IC2 Ins-tute, The University of Texas at Aus-n


Measurable Market Problem With

Problem Priorities

Data-Validated Financial Model With

Financial Benefit and Break-Even Analysis

“Go to Market” Roadmap With

Partners, Milestones, Timeline and Monitoring

Demonstrated Fitted Solution

With Solution Proposal

corresponding to Priorities

Storyboard Tool


Organiza-on •  Training Sessions:

–  Every Tuesday evening –  6 – 9:30 PM –  Beginning September 6th and final presenta-ons will be made December 1st

–  Highly interac-ve, hands-‐on, ac-on-‐oriented learning format –  Monthly Community Building and Mentoring Sessions

•  Loca-ons: –  Training Sessions: IC2 Ins-tute, 2815 San Gabriel St., Aus-n TX, 78705 (Ajendance is MANDATORY)

–  Community and Mentoring Sessions: TBD, will host sessions for community building and mentoring. (Par-cipa-on is strongly encouraged)


Comple-on Cer-ficate

•  All par-cipants ajending every program session and delivering a final presenta-on –  Will receive a FASTFORWARD Entrepreneurial Program Comple-on

Cer-ficate issued by the IC2 Ins-tute of The University of Texas at Aus-n

•  The cer-ficate will be presented in the Aus-n City Council Chambers by the IC2 Ins-tute and the City’s Economic Development Department Small Business Program.


Program Timeline

•  Applica+on Period: June 10 – July 31, 2016 5:00 PM CST. •  Final Par+cipant Selec+on: August 22, 2016 •  Fee Due: September 1, 2016 •  Sessions Begin: September 6, 2016

•  Final Presenta+on: December 1, 2016 •  Investment (fee) Required: $1,000 (per company – includes all

training, community-‐building, mentoring and co-‐working benefits)


Week 1: –  Sept. 6th: Orienta+on and

FASTFORWARD Program Introduc+on

–  Measurable Market Problems: Method and Ac+on Plan

Week 2: –  Sept. 13th: Differen+ated Solu+ons:

Method and Ac+on Plan

Week 3: –  Sept. 20th : Measurable Market

Problems: Review Results and Next Steps

Week 4: –  Sept. 27th: Differen+ated Solu+ons:

Review Results and Next Steps –  Sept. 29th: Community Mee-ng and

Mentoring

Week 5: –  Oct. 4th: Financial Models: Method

and Ac+on Plan Week 6:

–  Oct. 11th: Go-‐to-‐Market Plan: Method and Ac+on Plan

21

Schedule


Week 7: –  Oct. 18th: Financial Model: Review

Results and Next Steps

Week 8: –  Oct. 25th: Go-‐to-‐Market Plan: Review

Results and Next Steps –  Oct. 27th: Community Mee-ng and

Mentoring

Week 9: –  Nov. 1st: Integra+on of Results into

FASTFORWARD Go-‐to-‐Market Strategy

Week 10: –  Nov. 8th: FASTFORWARD Go-‐to-‐

Market Strategy and Business Presenta+ons

Week 11: –  Nov. 15th: Business Presenta+on

Revision and Prac+ce –  Nov. 17th: Community Mee-ng and

Mentoring

Week 12: –  Dec. 1st: Final Presenta+ons,

Cer+ficate Awards and Celebra+on

22

Schedule


Week Date Topic Brief Descrip+on 1 Sept. 6 Orienta+on and FASTFORWARD

Program Introduc+on Program overview, experien-al learning environment, business presenta-on approach

1 Sept. 6 Measurable Market Problems: Method and Ac+on Plan

Understanding your customer, their problems, how they make purchases, and direct strategies to define and quan-fy problems through direct interviews

2 Sept. 13 Differen+ated Solu+ons: Method and Ac+on Plan

Defining your product/service offering as a solu-on in light of the func-onal and economic problems and compe--ve landscape in the market through direct interviews

3 Sept. 20 Measurable Market Problems: Review Results and Next Steps

Analyzing data from market interviews, understanding market drivers and formula-ng the “shape” of the market problem

4 Sept. 27 Differen+ated Solu+ons: Review Results and Next Steps

Analyzing data from market interviews, seeing your product as a solu-on fisng into the “shape” of the market problem

4 Sept. 29 Community Mee-ng and Mentoring Data review with mentors and community building among peer companies

5 Oct. 4 Financial Models: Method and Ac+on Plan

Defining a financial model your problem-‐solu-on fit showing the economic value to partners or customers and how will you make profit

6 Oct. 11 Go-‐to-‐Market Plan: Method and Ac+on Plan

Reaching your customers through clearly defined steps, partnerships and ac-ons that reduce risk and accelerate -me to market

7 Oct. 18 Financial Model: Review Results and Next Steps

Analyzing data from market interviews, designing an accurate and simple financial models for partner/customer and company profit

8 Oct. 25 Go-‐to-‐Market Plan: Review Results and Next Steps

Analyzing data from partners and strategy to design an efficient pathway to deliver your solu-on to the market

8 Oct. 27 Community Mee-ng and Mentoring Data review with mentors and community building among peer companies

9 Nov. 1 Integra+on of Results into FASTFORWARD Go-‐to-‐Market Strategy

Integra-ng market data into a fully informed, partner iden-fied and profit-‐driven “Go-‐to-‐Market” strategy

10 Nov. 8 FASTFORWARD Go-‐to-‐Market Strategy and Business Presenta+ons

Presen-ng a business proposi-on to business partners and customers – how to best reach and draw others into profit bearing rela-onship with you

11 Nov. 15 Business Presenta+on Revision and Prac+ce

Prac-cing presenta-on and integra-on of mentor feedback to revise business presenta-on

11 Nov. 17 Community Mee-ng and Mentoring Data review with mentors, interac-on and community building among peer companies

12 Dec. 1 Final Presenta+ons, Cer+ficate Awards and Celebra+on

Presenta-ons of business strategies from each company to community leaders, selec-on of top presenta-ons, and awarding cer-ficates of comple-on


Now, Premiere Your Story!!! •  Amplify your innova-on’s value in the market •  hjps://www.youtube.com/watch?v=HYdvLR8j9Gg

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www.fasvorwardaus-n.org

Dr. Gregory P. Pogue FASTFORWARD Program Lead

Deputy Director Senior Research Scien-st [email protected]

+1(512)560-‐3717

hjp://ic2.utexas.edu/

WHAT STARTS HERE CHANGES THE WORLD Contact Informa+on

Documents

Business’Acceleraon’Program’ · 2020. 2. 20. · ©2016IC 2"Ins+tute,"The"University"of"Texas"at"Aus+n" Business’Acceleraon’Program’ A"small"business"growth"ini2a2ve"powered"by""